Wrecked Car Damaged Vehicle Blog

RSS Grab DamageMAX RSS Feeds

Was your Car Totaled? Should you keep the vehicle?

Joseph Coupal - Friday, November 23, 2012

"Owner retained" is a term you've probably never heard. Of the 4 million vehicles totaled every year in the United States, 1 million are "retained" by the "owner". They choose to actually keep the wrecked car rather than sending it to the scrap heap. Why? The owner knows the car better than the insurance company and thinks it can be either repaired or sold at a profit.

If the owner is automotive savvy, this is often the case!

Below is a typical situation:

  • You've been in a car accident
  • The insurance adjuster estimates damage of $8,500
  • Your vehicle's pre-crash value (ACV) is $10,000
  • Your state has an 80% damage threshold for declaring vehicle a total loss
  • At 85% ($8,500/$10,000), your vehicle is declared a total loss by your insurer
  • The insurance company estimates your vehicle is worth $500 post-crash (salvage value)

You have 2 options:

  • Take the $10,000 less your deductible ($1,000) and pass title to your insurer
  • Take the $10,000 less your deductible ($1,000) and salvage value ($500) and keep your car (with a salvage title)

In the second option, you are essentially taking the settlement and buying your damaged car from the insurance company. You may choose to repair the car or sell it. If you choose to sell it, DamageMAX will buy it - you pocket the profit!

How does DamageMAX pay you more for your owner retained vehicle than your insurer? Your insurer wants to settle the claim quickly and usually discounts your "owner retained" vehicle to encourage you to settle. This can be your advantage - contact DamageMAX to find out how much we will pay for your "owner retained" vehicle.

DamageMAX pays MAXimum Value for your Damaged Car!

Call 888-629-2137 24 hours / 7 days for a free quote on any damaged vehicle


Recent Posts


Tags

collision repair car's value repairs junk Sell your wrecked vehicle Clean-Break TIP sell the vehicle vehicle for cash fast value of the vehicle sell your vehicle buy vehicles Body shops High mileage vehicles auto body collision repair industry insider repair your vehicle cash only value buys any car buy any wrecked vehicle buyer of wrecked cars damaged vehicle top dollar for your damaged vehicle sell damaged vehicles Trade-in Program CarFax selling flood damaged vehicles buy wrecked cars fix the vehicle legal for less cash offer on any damaged vehicle car is not totalled buys wrecked cars money for damaged vehicles free price quote Maximum Value for damaged vehicle sell your wrecked car sell a car buy your wreck buying a used car wrecker services vehicle values consumer awareness DamageMAX diminished value sell junk cars administrative fees junk cars problem vehicle check for your wreck repair your car salvage title vehicle damaged vehicle for cash car buying business buyer of damaged vehicles inoperable cars call DamageMAX we buy any car damaged vehicle world Branded title vehicles trade-in selling their wrecked cars flood damaged cars selling your damaged vehicle Collision damaged vehicles repairing your wrecked car D.J. liability only immediate cash offer selling a wrecked car Sell your wreck wrecked your vehicle repair a vehicle buy your vehicle sell a damaged car accident with no insurance trade sell your car sell the car buy any car pre-cash value tow charges repair an old or worn out vehicle vehicle value selling a vehicle old junker Used vehicle values buy salvage title vehicles Selling your wrecked vehicle replacement vehicle buys your wreck sell your Honda Diminished Vehicle Value sell your old car wrecked car experts selling their damaged car buy damaged cars Donate Your Wrecked Vehicle buy a broken vehicle wrecked truck damaged vehicle replacement repair the vehicle buy damaged vehicles vehicle's value insurance company flood vehicles broken vehicle sell car parts car buyer damaged cars insurance check sell junk car wreck your car Chicago salvage value settlement check old car selling flood damaged cars CarBUYERUSA.com repair providers selling your wrecked car repaired broken vehicles Inoperable vehicles repairing the wrecked car buy the damaged vehicle storage or tow yard sell it online We buy damaged vehicles sell online sell your wrecked car online selling a damaged car Problem vehicles DJ Harrington sell repairing the vehicle cash offer owner retained E15 engine damaged vehicle car parts and components sell your damaged vehicle 12% in diminished value sell your vehicle as-is trade in repair bills repair orders auto insurance coverage selling any vehicle car parts selling totaled vehicles sell your damaged buy your wrecked car negative carfax reports wrecked your car diminished value trends buy a car free quote wrecked vehicles CarFax Reports car for top dollar sell a wrecked vehicle damaged by collision Top Dollar leaking fluids damaged vehicles used vehicle cash for your vehicle CarbuyerUSA wrecked vehicle average tow & storage bill title processing procedures how to sell a damaged car car buyers wrecked auto car for sale how much it costs Sell your car FAST value for your Damaged vehicle DamageMAX Difference car is wrecked damaged vehicle to sell value of your vehicle wreck your vehicle retained by the owner sold post-crash value car accident with no insurance repair the wrecked car cash for your wrecked vehicle damaged vehicle purchases trade their damaged car sell damaged cars reduction of resale value sell to damageMAX problem truck repair your wrecked vehicle retail value Call DamageMAX now! DamageMAX.com repairing the car buy your car for cash sell your Honda for Top Dollar un-repaired collision sell your high mileage vehicle sell vehicles Sell DamageMAX your wreck buy your wrecked vehicle trade-in value vehicle wrecked We Total Any Car recycle Dr Harrington cash out of your wrecked vehicle Honda car into cash wrecked vehicle, problem vehicles AAA Dr. Harrington owner retained vehicle cars for cash high mileage vehicle selling a damaged vehicle towing company sell the wrecked vehicle vehicle for trade-in cash for the car repair check fix your car Damaged Car wrecked car wreck car parts for cash CAR-Diologist buy your car buys any wrecked car collision repairs cash out

Archive



    GET A MORE PRECISE OFFER

    Does your car have body damage ?

    Number of airbags blown?

    Do you have a collision estimate?

    What is your insurance deductible?

    Is your car drivable?

    Do you have the car’s title?

    Does the vehicle have a salvage or rebuilt title?

    Does the vehicle motor run?

    YOUR CASH OFFER!

    CASH OFFER FOR YOUR
    DAMAGED VEHICLE

    $
    Fair market value prior to accident $


    Sell my damaged vehicle
    Check for my vehicle AS-IS

    This represents a cash offer for the vehicle as described by the seller.

    $
    Net Repair Check

    Proceeds for repairs that can be used for purchasing a replacement vehicle.

    $
    Deductible Payment

    Amount you save if you sell the car now

    $
    Cash Toward a New Vehicle
    $
    Out of Pocket Expenses
    ($0)